A Power of Attorney is a legal document by which you can appoint and authorize another person (usually a trusted friend, family member, colleague or adviser) to act on your behalf and to legally bind you in that respect. While most people fail to see the importance of having a Power of Attorney, there are many compelling reasons why they should be used.

Suppose, for example that:

• you are going to be out of the country for an extended period, and need someone trustworthy to manage your business affairs while you’re away;
• you wish to acquire property in another state, and you need to authorize a local to sign and lodge documents on your behalf;
• you want someone to manage your real estate for you; or
• you’re getting a little bit older and wish to appoint someone you know and trust to make healthcare decisions on your behalf should the day come when you are unable to do so yourself.

A Power of Attorney can be used to facilitate your needs in each of these scenarios.

The person giving the Power of Attorney is referred to as the ‘donor’, ‘grantor’ or ‘principal’, while the recipient is called the ‘agent’, ‘attorney-in-fact’ or just plain ‘attorney’ (which doesn’t mean they have to be a legal practitioner).

Need More Information? How EstateBee Can Help You…..

For more information on powers of attorney, please read the articles on this website or contact our customer support team who would be happy to answer any questions you have.

Alternatively, check out our book “Make Your Own Medical & Financial Powers of Attorney“. Make Your Own Medical & Financial Powers of Attorney provides you with detailed information on a variety of powers of attorney including durable powers of attorney for finance and property, healthcare powers of attorney and ordinary powers of attorney. It explains how powers of attorney work, what happens without them, how you should go about selecting your agent, how to revoke your power of attorney, the risks involved, problems to avoid, and much more. It also takes you step-by-step through the process of creating a variety of different powers of attorney.

All of EstateBee’s powers of attorney have been created by experienced estate planning lawyers. EstateBee has been a market leader in DIY estate planning for over 20 years.

For more information on our power of attorney products, please contact our customer service team.